American Homes 4 Rent raises $705.9M in IPO

|About: American Homes 4 Rent (AMH)|By:, SA News Editor

The company sold 44.1M shares for $16 each, the low end of an expected $16-$18 range as it comes public at a time when investors aren't so sure about the burgeoning single-family rental business.

The REIT was founded by self-storage kingpin Wayne Hughes.

The stock will trade with the symbol AMH.

Other single-family REITs recently gone public - SBY and ARPI - are trading below their offering price.